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Financial Services Guide

INSURANCE AND MEMBERSHIP SERVICES LTD TRADING AS COTA INSURANCE

INTRODUCTION

This Financial Services Guide (FSG) is intended to help you decide whether to use our services.

This FSG contains important information about:

  • How we and our Licensee can be contacted
  • What services we are authorised to offer you
  • How we and other relevant persons are remunerated
  • How complaints are dealt with.

Where required, you will be given a Product Disclosure Statement (PDS) before or at the time you acquire any product as a retail client. The PDS contains information on the significant benefits and characteristics of the product and of the rights, terms and conditions attached to the policy to assist you in making an informed decision about whether to purchase it or not.

This FSG only covers services we provide on Home, Landlord, Car, Caravan and Trailer, Pleasure Craft and Commercial insurance products.

WHO ARE WE?

Insurance and Membership Services Limited (IMS), a company limited by guarantee, has operated as an Insurance Agency since the company was formed in 1993. IMS provides products and services to members of COTA, Ambassador Card holders and others. For the purpose of this FSG “we”, “our” or “us” means IMS.

Insurance and Membership Services Ltd

ABN 59 057 159 743

Authorised Representative No. 246235

Level 1, 16 Hutt Street Adelaide SA 5000

Tel: 1300 1300 50 or +61 8 8112 8110

Fax: (08) 8112 8180

Preparation Date: 28 August 2017

WHO WILL BE PROVIDING THE FINANCIAL SERVICE TO YOU?

The financial service will be provided by IMS. We are appointed as an authorised representative of Allianz Australia Insurance Limited (Allianz) to:

  • provide general advice on and arrange Home, Landlord, Car, Caravan and Trailer and Pleasure Craft insurance products; and
  • provide general advice on and refer customers to Allianz for Commercial insurance products.

We can be contacted on 1300 1300 50 or +61 8 8112 8110. Allianz’s details are as follows:

Allianz Australia Insurance Limited
ABN 15 000 122 850 AFSL No. 234708
Level 12, Allianz Centre 2 Market Street, Sydney NSW 2000
Tel: 13 2664 Fax: (02) 8258 5099

Allianz has authorised the distribution of this FSG.

You may be provided with financial services by one of our employees who has been authorised by our Licensees as an authorised representative to provide general advice on and arrange or refer the financial products mentioned above.

GENERAL ADVICE WARNING

It is important that you understand and are happy with the products we and our representatives can arrange. We can give you general information to help you decide but do not provide advice on this insurance based on any consideration of your objectives, financial situation or needs. Before making a decision about whether or not to purchase the product/s, please carefully read the relevant PDS to decide if it is right for you.

PROFESSIONAL INDEMNITY INSURANCE ARRANGEMENTS

Allianz is a general insurer authorised under the Insurance Act 1973 (Cth) to carry on general insurance business in Australia and is supervised by the Australian Prudential Regulatory Authority (APRA) and subject to the prudential requirements of the Insurance Act. Because of this, Allianz is exempted from the requirement to hold professional indemnity insurance. Please contact Allianz if you require further information in relation to their compensation arrangements.

WHO DO WE ACT FOR WHEN PROVIDING SERVICES?

In arranging, referring and providing general advice on the above general insurance products, we act as an agent for Allianz.

WHAT REMUNERATIONS DO WE RECEIVE FOR OUR FINANCIAL SERVICES?

We receive a commission from Allianz each time you buy a policy which is based on a percentage of the net premium (premium less Goods and Services Tax (GST), stamp duty and any other government charges such as fire service levy (where applicable), taxes, fees or levies).

We may receive a profit share from Allianz for Home and Contents (excluding flood), Landlord (excluding flood), Car and Caravan and Trailer insurance policies arranged by us (or renewed) with Allianz in each calendar year. If the agreed net earned premium threshold and the agreed profit threshold (determined according to a formula that takes into account matters such as the premium received, claims and expenses incurred) are met, we receive an agreed percentage of the profit which exceeds the agreed profit threshold.

We also receive a marketing allowance from Allianz every two months. This is based on a percentage of the total gross written premium earned in the previous two months on Home and Contents (excluding flood), Landlord (excluding flood), Car and Caravan and Trailer insurance policies arranged by us (or renewed) with Allianz.

We pay our sales employees an annual salary and they may also receive bonuses or other incentives and rewards based on their performance relating to sales of products and other business criteria. This does not affect the premium that any individual customer may pay.

Where you have been provided with financial services by an employee who is an authorised representative, we may pay them all or part of our remuneration.

Where a third party has referred you to us, we may pay them an agreed percentage of our remuneration or an agreed amount for the referral as a commission or fee.

From time to time, we may participate in sales incentive schemes and Allianz may provide other benefits such as promotional items, financial assistance for promotion of its products, business related conferences, study trips or other functions. We may also be eligible to qualify for other benefits such as awards or hospitality events. These benefits are provided to us at no additional costs to you.

If you would like more information about the remuneration that we receive, please ask us. This request should be made within a reasonable time after this FSG is provided to you and before the financial services are provided to you.

ASSOCIATIONS OR RELATIONSHIPS?

Allianz is a related body corporate of Club Marine Limited who issues and manages Pleasure Craft insurance on behalf of Allianz.

HOW CAN YOU PROVIDE US WITH INSTRUCTIONS AND TELL US HOW YOU WISH TO ARRANGE YOUR INSURANCE?

Simply call us on 1300 1300 50 or +61 8 8112 8110 or other means which we agree with you.

PRIVACY

Your privacy is important to us and we are committed to promoting a privacy policy that ensures the privacy and security of your personal information. Our privacy policy is available online here.

Alternatively a copy of our privacy policy can be sent to you by contacting IMS and requesting a copy.

Email: insurance@cota.com.au
Phone: 1300 1300 50 or +61 8 8112 8110

WHAT HAPPENS IF YOU HAVE A COMPLAINT?

If you are dissatisfied with our service in any way contact us and we seek to resolve the issue and we will promptly refer it to Allianz. Allianz will attempt to resolve the matter in accordance with their Internal Dispute Resolution procedures. To obtain a copy of Allianz’ procedures contact us using the contact details on the first page of this document. A dispute can be referred to the Financial Ombudsman Service Australia (FOS) subject to its terms of reference. It provides a free and independent dispute resolution service for consumers who have general insurance disputes falling within its terms and its contact details are:

The Financial Ombudsman Service Australia
Phone: 1800 367 287
Post: GPO Box 3, Melbourne, Victoria 3001
Website: www.fos.org.au

FURTHER INFORMATION

If you need further information about the products or our services, or you have any queries please contact us.

Email: insurance@cota.com.au
Phone: 1300 1300 50 or +61 8 8112 8110

 

Download our Financial Services Guide PDF here. FSG Financial Services Guide web PDF version

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